Do I have to contribute a minimum amount?
- Lump sum contributions to the Vantage SIPP must be for a minimum of £1,000 gross (for personal contributions you pay in £800, then £200 is automatically added in basic rate tax relief).
- Monthly Direct Debit contributions must be a minimum of £50 gross (for personal contributions you pay in £40, then £10 is added in basic rate tax relief).
- Transfers from other pension plans should have a combined total of at least £1,000. Please ensure you will not lose any valuable guarantees or other benefits, or incur excessive exit fees by transferring.
- Once you have opened a Vantage SIPP, you do not have to make ongoing contributions.
- Note tax rules can change and the reliefs from them depend on your personal circumstances.
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Before applying, please understand the risks and features of the Vantage SIPP.